Hagerty appoints Marc Burns as SVP of brand and marketing

TRAVERSE CITY, Mich. - Hagerty, Inc. (NYSE:HGTY), a specialty vehicle insurance provider and automotive enthusiast brand with a market capitalization of $3.45 billion and strong revenue growth of 18.45% over the last twelve months, announced Thursday the appointment of Marc Burns as Senior Vice President of Brand and Marketing, effective July 14.

In this newly created position, Burns will be responsible for integrating Hagerty’s brand experience across member touchpoints, unifying brand strategies, and implementing marketing initiatives. According to the company’s press release, these efforts align with Hagerty’s goal to double its policies in force by 2030. InvestingPro data shows the company is already demonstrating strong execution with a healthy 57.38% gross profit margin and positive net income.

Burns joins Hagerty after serving as Vice President of Marketing, Advertising & Social Media at AT&T, where he worked on reshaping brand strategy and led major marketing initiatives. His previous experience includes senior leadership roles at BBDO and Leo Burnett, where he worked with brands including Wells Fargo, Subaru, Mattel, and McDonald’s.

"We are thrilled to welcome Marc to the Hagerty team," said McKeel Hagerty, CEO and Chairman of Hagerty. "He brings more than two decades of brand, marketing and advertising experience."

Burns will begin his new role on July 14, focusing on enhancing brand reputation and delivering marketing initiatives for the company, which describes itself as a leading provider of specialty vehicle insurance and car valuation data.

Hagerty operates in the United States, Canada, and the United Kingdom, and reports having a community of over 890,000 members in its Hagerty Drivers Club.

The information in this article is based on a press release issued by Hagerty. According to InvestingPro analysis, Hagerty’s stock currently appears undervalued despite trading at a P/E ratio of 49.47x. Discover more insights about HGTY and access detailed financial analysis through InvestingPro’s comprehensive research reports, available for over 1,400 US stocks.

In other recent news, Hagerty Inc. reported its first-quarter 2025 earnings, surpassing Wall Street’s expectations with impressive financial results. The company achieved earnings per share of $0.08, doubling the projected $0.04, and reported revenue of $319.6 million, exceeding the anticipated $259.17 million. This performance underscores Hagerty’s robust operational execution and strategic initiatives, contributing to a net income increase of 233% to $27 million. Additionally, Hagerty’s adjusted EBITDA rose by 45% to $40 million, reflecting strong profitability and growth in its niche market.

The company has set ambitious targets for 2025, aiming for revenue growth of 12-13% and a written premium increase of 13-14%. Hagerty plans to double its policies in force to 3 million by 2030, emphasizing its commitment to long-term expansion. The firm’s strategic initiatives include launching new products and expanding internationally, with upcoming auctions in Italy as part of a partnership with BMW. Despite potential challenges such as rising expenses and seasonal fluctuations, Hagerty remains focused on leveraging its unique market position.

Analysts have noted Hagerty’s performance, with the company’s strategic direction and financial health receiving positive market reception. The company’s recent earnings call highlighted its focus on technology investments and risk management, with minimal expected impact from tariffs. Hagerty’s efforts to expand its specialty insurance offerings and simplify its membership experience are expected to drive future growth and profitability.

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